Probate Valuations
Probate Valuations
Handling a loved one’s belongings after their passing can be a challenging task, especially with the complexities of the probate process.
A comprehensive probate valuation provides peace of mind and facilitates a straightforward division of assets.
We offer advice and formal valuations suitable for HMRC on antiques, collectables and everyday household contents.
Assessments can be carried out in situ or in our rooms.
Does Probate Apply to Household Contents?
Antiques and collectables should be considered along with other assets when valuing an estate for probate purposes. Jewellery, artworks and collections of coins or other valuable items should be identified, catalogued, itemised and declared.
Some antiques may have more sentimental value than monetary value. However, an accurate valuation must be completed to satisfy legal requirements and ensure the estate is divided as intended.
The person who has died may have included specific pieces of furniture, rings or paintings in their will with the intention that they pass to a particular person. Even in this circumstance, such heirlooms must be included in probate valuations.
Insurance Valuations vs Probate Valuations
Probate valuations should not be confused with insurance valuations.
Probate valuations are based on the price items would achieve if they were sold at auction or to a specialist dealer. An insurance valuation is calculated as if the items had to be repurchased at retail.
A previous insurance valuation may give you a sense of the value of a collection, but submitting an insurance valuation for probate may make you liable for unnecessary inheritance tax.
Expert Probate Valuation Services
Our specialists provide valuations on a wide range of antiques and collectables.
Paying different experts for valuations can be costly, and our broad knowledge of the market for various valuable items streamlines the probate process, which is why solicitors often recommend our services.
Our team provides professional and respectful service. A named staff member will answer any questions and guide you through the process from beginning to end.
Southgate Auctions Probate Valuation Fees
We charge £350* + VAT to value chattels for probate purposes.
(*A higher rate may apply for large or complex collections.)
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